LendingTree study: Less than 40% of U.S. non-homeowner households can afford a typical $200,000 starter home
A LendingTree study reveals that fewer than 40% of non-homeowner U.S. households can afford a typical starter home priced at $200,000. The typical non-homeowner household earns about $7,000 less than what's needed to purchase an entry-level home, highlighting the ongoing housing affordability crisis in America.
Key quotes
Buying a first home remains out of reach for many Americans, with fewer than 4 in 10 non-homeowner households able to afford a typical starter home, a new LendingTree analysis found.
A typical starter home costs $200,000, with LendingTree defining entry-level homes as owner-occupied properties valued at the 25th percentile of the housing market
The typical non-homeowner household earns about $7,000 less than what's needed to buy an entry-level home, according to LendingTree.
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